What Will Replace The Petrodollar ???

As you know, I previously have pondered why the powers that be in the West apparently are not opposed to the demise of the US petrodollar:

http://sainthoward.blogspot.com/2017/09/demise-of-us-dollar.html

This is a particularly troublesome topic, especially because the BRICS and others are creating a new global financial system of their own to replace the US dollar:

http://sainthoward.blogspot.com/2017/04/brics-are-unveiling-their-version-of.html

Now comes this report by Graham Vanbergen which appears to explain what the Western powers that be are up to - the creation of an INFORMATION-based economy which will eclipse current and future economies which are based mainly on physical assets and commodities:

The oil industry has dominated the global commodity market for a hundred years one way or another. In that time it has also been the cause of considerable geopolitical conflict – hardly surprising when you consider than more than four billion metric tons of oil is shipped worldwide every year. Approximately one third comes from the Middle East. America and Russia account for around 12 percent each of the world’s total oil production annually. There are around 1.7 trillion barrels of oil in known reserves and although Saudi Arabia boasts a global oil reserve of 15.6 percent, Venezuela boasts 17.6 percent. Europe is the world’s largest importer and road transport is the world’s largest consumer. Overall, nearly 100 million barrels of oil are consumed every single day. In 2016, Royal Dutch Shell, Exxon and BP had combined overall revenues from oil of around $620 bn.

By contrast Alphabet (Google’s parent company), Amazon, Apple, and Microsoft are now the most valuable listed firms in the world leaving their energy stock competitors in the dust. Their profits are surging: they collectively racked up over $600bn in revenue last year (and rising) and banked $25bn in net profit in the first quarter of 2017. Amazon now captures half of all dollars spent online in America. Google and Facebook accounted for almost all the revenue growth in digital advertising in America last year. And although Facebook (listed 8th most valuable listed company) is by far the lowest cash generator of this top five, between it and Google, they captured 20 percent of global advertising expenditure. The market cap of Apple, Google and Amazon is now a whisker off $2 trillion, truly eclipsing the aforementioned big three energy corps who boasts a paltry collective value of just $700 billion.

You can read the rest @
http://truepublica.org.uk/global/data-overtakes-oil-leading-geopolitical-global-commodity/

Don't know why I didn't see that before. A data based economy makes perfect sense in a world of growing populations and dwindling physical resources.

By the way, "data dollars" will be kinda like US dollars - they will be printed ad infinitum, with absolutely nothing to back them ... except the military muscle hired by the global bankgangsters and their collaborators in the one percent.